Premier Acquires Three Buildings, Retail Condo For $26M

Uzi Ben-Abraham and Yaron Jacobi’s Premier Equities is acquiring a 2,860 SF ground-floor retail condo and three NoMad buildings for a total of $26M.

The retail space sits at the base of 259 Bowery (pictured), a six-story mixed-use building on the Lower East Side. Owned by developer Charles Saulson and leased to Soho Contemporary Art gallery until 2020, the space was acquired for $5.5M. Premier’s already developing an eight-story, 24k SF mixed-use tower across the street, The Real Deal reports.

The three buildings, 275 Fifth Ave, 2 East 30th St and 273 Fifth Ave, were acquired from NJ-based Victor Group for $12M, $4.6M and $3.5M, respectively. Victor—which acquired 273 and 275 Fifth Ave from the Jackson Group for $35M in 2015—will retain the properties’ air rights and also owns a 130-unit apartment tower at 281 Fifth Ave.

Premier also co-owns the Hotel Indigo’s vacant 10k SF retail space and is developing a six-story mixed-use building at 134 Wooster St. [TRD]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

How Long Island Projects Can Cut Through Red Tape And Community Opposition To Cross The Finish Line

King Of Prussia Pursues Stadium To Anchor $200M Mixed-Use Complex

Empire State Building Observation Deck Hemorrhaging Visitors, Value

Slate, Hudson Cos. Picked To Develop Massive Queens Housing Project

BXP's 343 Madison Lands $1.2B Loan, Nears Deal With Equity Partner

Mamdani Adds Millions To Program Helping Retailers Negotiate With Landlords

Canadian REIT Buys Brooklyn Medical Office For $90M: The N.Y. Deal Sheet

NYC Stops Construction On Another Office-To-Residential Conversion As Inspectors Descend On Job Sites

1200 White St., Atlanta's Newest Creative Hub, Is Transforming The West End

SL Green Cashing In On Surging Manhattan Office Market

Developers Build More Bedrooms As 99-Unit Projects Dominate

Mamdani Names Anthony Shorris CEO, Lina Khan Chair Of EDC